ST. LOUIS, Sept. 6, 2017 /PRNewswire/ -- Peabody (NYSE:
BTU) announced today that it issued a notice to repay an additional
$150 million of its Senior Secured
Term Loan, bringing a total of $300
million of debt voluntarily repaid in the third quarter of
2017. Peabody also is seeking amendments to accommodate a
repricing of the company's Senior Secured Term Loan, which after
the prepayment announced this morning will total $647.6 million, and to modify terms to provide
additional flexibility for share repurchases and dividends
consistent with the company's capital return targets, along with
other potential changes.
There can be no assurance that Peabody will be successful in
amending the terms of its Senior Secured Term Loan, including
repricing its term loan, and any amendments are subject to market
and other customary conditions.
Peabody is the world's largest private-sector coal company.
The company is also a leading voice in advocating for
sustainable mining, energy access and clean coal
technologies. Peabody serves metallurgical and thermal coal
customers in more than 25 countries on five continents. For
further information, visit PeabodyEnergy.com.
Investor Contact:
Julie
Gates
314.342.4336
Certain statements included in this release are
forward-looking as defined in the Private Securities Litigation
Reform Act of 1995. The Company uses words such as "anticipate,"
"believe," "expect," "may," "forecast," "project," "should,"
"estimate," "plan," "outlook," "target," "likely," "will," "to be"
or other similar words to identify forward-looking statements.
These forward-looking statements are made as of the date the
release was issued and are based on numerous assumptions that the
Company believes are reasonable, but these assumptions are open to
a wide range of uncertainties and business risks that may cause
actual results to differ materially from expectations. These
factors are difficult to accurately predict and may be beyond the
Company's control. Such factors include, but are not limited to
those described in the Company's Annual Report on Form 10-K for the
year ended December 31, 2016 filed
with the SEC on March 22, 2017, in
Exhibit 99.2 to the Company's Current Report on Form 8-K filed with
the SEC on April 11, 2017, and in the
Company's Annual Report on Form 10-K/A (Amendment No.1) for the
year ended December 31, 2016 filed
with the SEC on July 10, 2017, as
well as other filings the Company may make from time to time with
the SEC. Factors that could affect the Company's results or an
investment in its securities include but are not limited to:
competition in the energy market and supply and demand for the
Company's products, including the impact of alternative energy
sources, such as natural gas and renewables; global steel demand
and its downstream impact on metallurgical coal prices, and lower
demand for the Company's products by electric power generators;
customer procurement practices and contract duration; the impact of
weather and natural disasters on demand, production and
transportation; reductions and/or deferrals of purchases by major
customers and the Company's ability to renew sales contracts;
credit and performance risks associated with customers, suppliers,
contract miners, co-shippers, and trading, bank and other financial
counterparties; geologic, equipment, permitting, site access,
operational risks and new technologies related to mining;
transportation availability, performance and costs; availability,
timing of delivery and costs of key supplies, capital equipment or
commodities such as diesel fuel, steel, explosives and tires;
impact of take-or-pay arrangements for rail and port commitments
for the delivery of coal; successful implementation of business
strategies, including, without limitation, the actions we are
implementing to improve the Company's organization and respond to
current conditions; negotiation of labor contracts, employee
relations and workforce availability, including, without
limitation, attracting and retaining key personnel; changes in
post-retirement benefit and pension obligations and their related
funding requirements; replacement and development of coal reserves;
uncertainties in estimating the Company's coal reserves; effects of
changes in interest rates and currency exchange rates (primarily
the Australian dollar); the Company's ability to successfully
consummate acquisitions or divestitures, and the resulting effects
thereof; economic strength and political stability of countries in
which we have operations or serve customers; legislation,
regulations and court decisions or other government actions,
including, but not limited to, new environmental and mine safety
requirements, changes in income tax regulations, sales-related
royalties, or other regulatory taxes and changes in derivative laws
and regulations; the Company's ability to obtain and renew permits
necessary for the Company's operations; the Company's ability to
appropriately secure the Company's requirements for reclamation,
federal and state workers' compensation, federal coal leases and
other obligations related to the Company's operations, including
the Company's ability to utilize self-bonding and/or successfully
access the commercial surety bond market; litigation or other
dispute resolution, including, but not limited to, claims not yet
asserted; terrorist attacks or security threats, including, but not
limited to, cybersecurity breaches; impacts of pandemic illnesses;
any lack of an established market for certain of the Company's
securities, including the Company's preferred stock, and potential
dilution of the Company's common stock; price volatility in the
Company's securities; short-sales in the Company's securities; any
conflicts of interest between the Company's significant
shareholders and other holders of the Company's capital stock; the
Company's ability to generate sufficient cash to service all of the
Company's indebtedness; the Company's debt instruments and capital
structure placing certain limits on the Company's ability to pay
dividends and repurchase capital stock; the Company's ability to
comply with financial and other restrictive covenants in various
agreements, including the Company's debt instruments; and other
risks detailed in the Company's reports filed with the SEC. The
Company does not undertake to update its forward-looking statements
except as required by law.
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SOURCE Peabody